I need problem #2

SERIAL PROBLEM: KATE'S CARDS Note: Thi is a contimustion of the Serial Problem: Kate's Cards from Chapters 1 through 9.) SPI0. Recall that Kate previously obtained a $15,000 bank loan, signing a note payable, on November 30. The note roquired semiannual interest payments at the rate of six percent. The entire principal balance was due two years from the origination date of the note. Kate has been accruing interest on a monthly bass in the amount of $75. Kate would like to know how she should record the interest in May, the month ste makes the first interest payment. She is unsure how much expense will need to be The upcoming interest payment is really not Kate's main concern right now. She was just notithe by a lawyer that she is being sued for copyright infringement. Mega Cards Incorporated, one ol largest greeting card companies, believes that one of Kate's designs is too similar to one of Meg